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The scramble is back on to become Amazon of home sales
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Scramble is back on to become Amazon of home sales Jim Buchta, Star Tribune © Dreamstime/Dreamstime/TNS Seattle- based Zillow will open a residential real estate brokerage- though on a very limited basis.
When Opendoor, Zillow Offers and other iBuyers popped up around the country a few years ago, they hoped to upend the traditional homebuying process by doing for real estate what Amazon did for online shopping by using technology to eliminate all the hassles and uncertainties of buying and selling a house. That included offering sellers instant online offers on properties the companies would later resell.
But this spring, with the pandemic bearing down on the economy and the future of the real estate market uncertain, those iBuyers stopped buying, interrupting efforts to disrupt an industry that has long relied on face-to-face interactions. But now they are back at a time when there s a shortage of house listings and properties are selling in record time,